Mobile Communication Sector Update

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Mobile Communication - May 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on May 6, 2019.
Mobile Communication Feed Summary
4
Mobile Communication > Feed Summary
Platforms that enable P2P communication without any physical (wired) connection over wireless (OTT) network
• Inclusions: All OTT or network based apps or platforms
whose core feature is mobile communication. Companies
that provide communication APIs for developers and
businesses. Platforms that enable content creation for
messaging platforms are also included.
• Exclusions: All network providers, telecom operators,
data service providers, data top-ups & recharge
facilitators. Social platforms are not included since their
scope is much wider than just communication.
• Excludes funding information of Chinese companies Feed in Numbers
Overview
$8.9B
Funding
37
Mega
Companies
6373490
FundedCovered on
Tracxn
12
Unicorns
14
Soonicorns
33
Minicorns
20
IPO’d Cos
185
Late Stage Cos
39
132
Acquisitions
654
DeadPooled
7
Acquihired
Series A+ Cos
Snapchat
(2011, Los Angeles, $2.62B)
Slack
(2009, San Francisco, $1.27B)
WhatsApp
(2009, Santa Clara, $58.2M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Mobile Communication
5
$427M - Series H
Slack (2009, San Francisco, $1.3B)
$50M - Angel
Signal (2013, San Francisco, $50M)
$250M - Series G
$35M - Series C
Crew (2015, San Francisco, $59.9M)
$60M - Series A
MessageBird (2011, Amsterdam, $60.1M)
$28.2M - Series A
Plynk (2015, Dublin, $29M)
$52M - Series B
SendBird (2013, San Francisco, $68.1M)
$20.4M - Series B
Anonyome Labs (2014, Salt Lake City, $20.4M)
$50M - Series C
Snow (2015, Seoul, $95M)
$20M - Series B
Eko Communications(2012, Bangkok,
$28.7M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Mobile Communication > Feed Summary > Investment Trend Summary
Seed SV Angel (#5), Betaworks (#5), Greylock Partners (#4)
Series A/B Sequoia Capital (#2), Accel (#2), Kleiner Perkins (#2)
Series C+ Kleiner Perkins (#2), Sequoia Capital (#2), Comcast Ventures (#2)
Incubators Y Combinator (#13), 500 Startups (#10), Techstars (#8)
Other Notable
Investors
Kima Ventures (#7), FundersClub (#3), T. Rowe Price (#3)
Debt Investors Idinvest Partners (#2), Horizon Technology Finance (#2), TPG (#1)
Most Active InvestorsRecent Investments
567 590
369
265
187
48
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 126 108 73 63 58 9
$7.2B
$626M
$396M
$158M
$149M
US
Europe
India
Canada
Israel
$ Funding
$100M
$1.6B
$797M
$2.5B
$619M $757M
$241M
22
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Mobile Communication
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Horizons Ventures 4
Skype (2003, Luxembourg, $26.8M)
Kleiner Perkins 4
Snapchat (2011, Los Angeles, $2.6B)
DFJ 3
Tango (2009, Mountain View, $367M)
Twilio (2007, San Francisco, $240M)
IVP 3
Sequoia Capital 3
WhatsApp (2009, Santa Clara, $58.3M)
Jul 2018 LINK Mobility Acq by ABRY Partners for $403M
Jan 2017 Talking Tom for Messenger for $1B
Feb 2014 Viber Acq by Rakuten for $900M
Feb 2014 WhatsApp Acq by Facebook for $22B
May 2011 Skype Acq by Microsoft for $8.5B
Mar 2008 Bebo Acq by America Online for $850M
Mar 2007 WebEx Acq by Cisco for $2.9B
Mobile Communication > Feed Summary > Exit Outlook Summary
Google 5
GrandCentral (Jun 2007, $50M), Gizmo5 (Nov 2009, $30M), Pie
(Feb 2016)
Yahoo 5 Rondee (Jun 2013), MessageMe (Oct 2014), Kismet (May 2014)
Snapchat 5
Zenly (Jun 2017, $213M), Looksery (Sep 2015, $150M), Bitmoji
(Mar 2016, $100M)
Microsoft 3 Skype (May 2011, $8.5B), Wand Labs (Jun 2016)
Facebook 3
WhatsApp (Feb 2014, $22B), Masquerade (Mar 2016), Beluga
(Mar 2011)
Recent IPOs Top Acquisitions
HearMeOut Jun 2016
Voice Messenger social app
IPO MCap: $9.7M
CLX Communications Sep 2015
Communications API provider
IPO MCap: -
MySQUAR Jul 2015
Social chat app
IPO MCap: $29M
CounterPath Jun 2012
Desktop and mobile VOIP software and solu…
IPO MCap: -
Bandwidth Nov 2017
VoIP, SMS and 911 solutions
IPO MCap: $352M
Snapchat Mar 2017
Multimedia messaging application
IPO MCap: -
Line Jul 2016
Messaging app with free voice calls
IPO MCap: -
Twilio Jun 2016
Cloud Communications API provider
IPO MCap: $1.2B

Marketmap: Mobile Communication
CPaaS
INTEGRATED*
A2P
P2P
ENTERPRISE COMMUNICATION
MESSAGING
CALLING
MESSAGING
EPHEMERAL
TEXT & MULTIMEDIA
LOCATION SHARING
SECURE
ANONYMOUS
CALLING
VOICE
VIDEO
APP COMMUNITY CHAT
OPEN NETWORK GEO-SOCIAL
Overview
Companies 3490
Funded 637 Series A+ 185
Funding $8.9B Last 2 yrs $1.9B
Most Active Investors
Seed SV Angel (5)
Series A/B Sequoia Capital (2)
Series C+ Kleiner Perkins (2)
Others Kima Ventures (7)
Incubators Y Combinator (13)
Top Cities
Bay Area 387 Cos $3.2B
Los Angeles 70 Cos $2.7B
Feed in Numbers
Unicorns 12 Soonicorns 14
Minicorns 33 Editor Picks 137
Acquihired 7 Deadpooled 654
Top Companies
Exits
IPOs 20 Twilio, Bandwidth
Acquisitions 132 WhatsApp, Skype
Top Acquirers Google, Yahoo
Mobile Communication > Feed Summary > BlueBox
7

Key Sub Sectors in Mobile Communication Sector
Summary of Key Markets
8
Other Notable Markets
# Cos on
Platform
Last 2 Years
$ Invested # Round
Content > Content creation >
Emojis & Stickers 56 $3.8M 3
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Enterprise >
Messaging 155 $808M 20
CPaaS > P2P >
Messaging 78 $94.1M 7
Enterprise > Messaging >
Vertical focused 38 $23.4M 7
Content >
Emojis and Stickers 162 $28.2M 5
CPaaS > P2P >
Calling 73 $21.7M 5
CPaaS >
Horizontal 59 $67.1M 4
CPaaS >
A2P 503 $11.9M 4
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Ephemeral
Apps that allow sending short-lived messages or
messages that can be deleted by the sender
137 25 $2.9B
Enterprise
Apps that help employees in intra-organisation
communication
250 78 $1.9B
Calling
Apps that connect users to phones or other app users
through voice or video calling
645 96 $1.6B
Messaging
Apps that allow sending messages in the form of text,
pictures, videos, etc.
1117 233 $1.2B
CPaaS
Companies that provide CPaaS (Communication
Platform as a Service) in the form of APIs,...
716 113 $1.1B
Content
Apps that support messaging apps through creative
content, content creation platforms,...
295 35 $103M
App Community chat
Apps that help users discover and converse with
strangers from the community of fellow...
298 47 $91.4M
Mobile Communication > Feed Summary > Summary of Key Markets

List of Notable Companies in Mobile Communication
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Mobile Communication > Feed Summary > Notable Companies in the Sector
Public
Vonage
(2001, Holmdel, $671M)*
Twilio
(2007, San Francisco, $240M)
Bandwidth
(1999, Raleigh, $22M)
MySQUAR
(2013, Yangon, $3.2M)
HearMeOut
(2012, Tel Aviv, $500k)
GINSMS
(2002, Singapore)
Snapchat
Norwood Systems
(2011, Nedlands, $14.8M)
NetTALK
(2008, Miami, $10.1M)
Kakao Talk
(2010, Seongnam-si)
Public
Line
(2011, Tokyo)
CounterPath
(2002, Vancouver)
Upco International
(2017, Surrey)
Boss Revolution
(2008, Newark)
Chunghwa Telecom
Data Communication
(1991, Taipei)
CLX Communications
(2015, Stockholm)
Firstin Wireless
(2005, Montreal)
WhizXpress
(2014, Zug)
Acquired
WhatsApp
(2009, Santa Clara, $58.3M)
Skype
(2003, Luxembourg, $26.8M)
WebEx
(1995, Santa Clara, $25M)
Talking Tom for
Messenger
(2009, Limassol)
Viber
(2010, Tel Aviv)
Bebo
LINK Mobility
(1993, Oslo)
Nexmo
Zenly
(2011, Paris, $33.7M)
ICQ.com
(1997, Tel Aviv)
Acquired
Looksery
(2013, San Francisco)
Followap
(1999, New York City, $14M)
Mblox
(2000, Sunnyvale, $79.6M)
Bitmoji
(2019, Toronto, $11M)
Bitstrips
(2007, Toronto, $11M)
Unicorns
Slack
Tango
(2009, Mountain View, $367M)
Hike Messenger
(2012, Delhi, $261M)
Kik
(2009, Toronto, $121M)

List of Notable Companies by Market in Mobile Communication
Notable Companies by Market (1/6)
11
Mobile Communication > Feed Summary > Notable Companies by Market
Ephemeral
Engagement focused
Unicorn. Stage: Public
Al-Waleed Talal, Tencent, CapitalG and 43 Other
Investors
Ephemeral messaging app
Soonicorn. Stage: Series C
SoftBank Group, Sequoia Capital, LINE Corporation
and 1 Other Investors
Telegram (2013, St. Petersburg)
Open source messaging platform
Soonicorn. Stage: Funded
Jubilee Capital Management, Concentric Ventures,
Nogle Capital Management and 5 Other Investors
Privacy focused
Wickr (2012, San Francisco, $87.8M)
Ephemeral, encryption based secure
communication
Merlin International, Dolby Family Ventures,
Riverwood Capital and 8 Other Investors
Messaging
Generic
Hike Messenger (2012, Delhi, $261M)
P2P messaging application and Voice over IP (VoIP)
application
Unicorn. Stage: Series D
Tencent, Foxconn Electronics, Adam D'Angelo and 6
Other Investors
Kik (2009, Toronto, $121M)
Mobile messaging app with in-built browser
Tencent, Millennium Technology Value Partners, SV
Angel and 9 Other Investors
Cross platform Instant messaging platform
Unicorn. Stage: Acquired
Sequoia Capital

12
Messaging
Generic
Bebo (2005, San Francisco, $15M)
Web Social Networking portal & social app
developer
Stage: Acquired
Balderton Capital, Vert Capital, Maven Ventures and
1 Other Investors
Bitmoji (2019, Toronto, $11M)
App for messaging with emojis
Stage: Acquired
Horizons Ventures, Kleiner Perkins
MySQUAR (2013, Yangon, $3.2M)
Social chat app
Editor's Pick. Stage: Public
Yonder & Beyond, Pix Vine Capital
HearMeOut (2012, Tel Aviv, $500k)
Stage: Public
Generic
Kakao Talk (2010, Seongnam-si)
Mobile messenger app
TPG, GIC, Anchor Equity Partners and 12 Other
Investors
Line (2011, Tokyo)
Talking Tom for Messenger (2009, Limassol)
Messaging app with animated characters
Stage: Acquired
Special purpose
Life360 (2008, San Francisco, $89.7M)
Mobile app that connects family members and close
friends
ADT, Duchossois Capital Management, Fontinalis
Partners and 27 Other Investors
Zenly (2011, Paris, $33.7M)
Mobile app for sharing real-time location
Soonicorn. Stage: Acquired
Benchmark, Idinvest Partners, Kima Ventures and 2
Other Investors

13
Calling
Voice
Rebtel (2006, Nacka, $28M)
Cheap international calling app
Soonicorn. Stage: Series B
Balderton Capital, Index Ventures
Norwood Systems (2011, Nedlands, $14.8M)
Cost-effective mobile roaming voice, messaging and
data services provider
Stage: Public
Cazenove Capital, DB Capital Partners, Argo Global
Capital and 3 Other Investors
NetTALK (2008, Miami, $10.1M)
VoIP solutions provider
Stage: Public
Midtown Partners
Boss Revolution (2008, Newark)
Prepaid International Calling and Payment Services
Stage: Public
Firstin Wireless (2005, Montreal)
Long distance and roaming services provider
Stage: Acquired
Voice
WhizXpress (2014, Zug)
Mobile application for VOIP calling
Stage: Public
Video
Vonage (2001, Holmdel, $671M)
Offers VoIP services
JPMorgan Chase & Co., Citizens Bank, Silicon Valley
Bank and 9 Other Investors
Free video & voice calls app
Alibaba Group, Qualcomm, DFJ and 10 Other
Investors
YouNow (2011, New York City, $36.4M)
Live video-streaming and chat app
Venrock, Comcast Ventures, Oren Zeev and 10
Other Investors
VoIP Software application
EBay, Andreessen Horowitz, Silver Lake and 14
Other Investors

14
Calling
Video
ICQ.com (1997, Tel Aviv)
Instant Messaging app with video call feature
Stage: Acquired
Shavit Capital
Looksery (2013, San Francisco)
App to add facial effects on video chat
Stage: Acquired
Viber (2010, Tel Aviv)
Free calls via smartphone app
Stage: Acquired
Eniac Ventures
Content
Content creation
WeVideo (2011, Menlo Park, $19.1M)
Cloud-based video editing platform
Soonicorn. Stage: Series A
Crest Capital Ventures, Second Century Ventures,
Keiretsu Forum
Bitstrips (2007, Toronto, $11M)
Emoji and sticker generation app
Stage: Acquired
Horizons Ventures, Kleiner Perkins
Enterprise
Messaging
Real-time messaging, archiving and search for
enterprise teams.
Unicorn. Stage: Series H
General Atlantic, Dragoneer Investment Group, T.
Rowe Price and 30 Other Investors
TigerText (2010, Santa Monica, $81.1M)
Secure Enterprise Texting
Norwest Venture Partners, Invus Group, Accolade

15
Enterprise
Calling
Zinc (2013, San Francisco, $31.5M)
Secure and ephemeral mobile messaging for field
workforce
Soonicorn. Stage: Acquired
GE Ventures, Hearst, Emergence Capital and 1
Other Investors
WebEx (1995, Santa Clara, $25M)
On-demand applications for businesses to conduct
web conferencing
New Enterprise Associates, Walden International,
Summit Partners and 1 Other Investors
CPaaS
Horizontal
Twilio (2007, San Francisco, $240M)
T. Rowe Price, Altimeter Capital, Amazon and 24
Other Investors
Gupshup (2006, Mumbai, $47M)
Messaging and bot development platform
Soonicorn. Stage: Series E
Tenaya Capital, Globespan Capital Partners, Charles
River Ventures and 4 Other Investors
Bandwidth (1999, Raleigh, $22M)
Stage: Public
Portolan Capital Management, Carmichael Partners,
De Anda Capital and 1 Other Investors
Nexmo (2010, San Francisco, $22M)
Cloud SMS API
Stage: Acquired
Sorenson Capital, Intel Capital, NHN Investment and
5 Other Investors
P2P
Messaging and chat API/SDK
Iconiq Capital, Shasta Ventures, August Capital and
4 Other Investors
Followap (1999, New York City, $14M)
Pioneer in mobile device based messenger
Stage: Acquired
Sequoia Capital, Star Ventures, Viola Group and 1
Other Investors
Chunghwa Telecom Data Communication
(1991, Taipei)
Cloud-based unified communication solutions
provider
Stage: Public
CLX Communications(2015, Stockholm)
Stage: Public
Neqst Partner

16
CPaaS
A2P
Mblox (2000, Sunnyvale, $79.6M)
Mobile Messaging For Brands
Minicorn. Stage: Acquired
Horizon Technology Finance, Norwest Venture
Partners, Scale Venture Partners and 11 Other
Investors
IntelePeer (2003, San Mateo, $54M)
Business CaaS solutions provider
Soonicorn. Stage: Series D
Horizon Technology Finance, VantagePoint Capital
Partners, Kennet Partners and 8 Other Investors
Sparkcentral (2011, San Francisco, $41.4M)
Social Customer Service Platform
LRM, Group MC, Split Rock Partners and 3 Other
Investors
A2P
CounterPath (2002, Vancouver)
Desktop and mobile VOIP software and solutions
provider
Stage: Public
Wesley Clover, BDC, Propel Partners and 1 Other
Investors
GINSMS (2002, Singapore)
Mobile technology and services company
Stage: Acquired
LINK Mobility (1993, Oslo)
Mobile payment solution provider to businesses.
Stage: Acquired
Herald Investment Management
Upco International (2017, Surrey)
Wholesale voice termination and Blockchain
payment services provider
Stage: Public

List of Notable Companies in Mobile Communication in China
Notable Companies in the Sector in China
17
Mobile Communication > Feed Summary > Notable Companies in the Sector in China
Public
Hello Pal
(2013, Hong Kong)
Unicorns
WeChat
(2011, Shenzhen)

Recent News in Mobile Communication Sector
Recent News
18
Mobile Communication > Feed Summary > Recent News
May 2019
SendBird raises additional $50 million Series B to ramp up global
demand for in-app messaging; now surpasses 1 billion messages
per month, TechStartups.com
May 2019 WhatsApp Pay may end Paytm's hegemony in India, Indiatimes
May 2019 WhatsApp's steps on child sex abuse not enough: Officials, Indiatimes
May 2019
Govt wants SC to take action against WhatsApp for flouting RBI
rules, Indiatimes
May 2019
Won't start payment service without following RBI norm:
WhatsApp assures SC, Business Standard
May 2019
War on fakes: Govt may verify WhatsApp, Twitter, Facebook
accounts using mobile numbers, financialexpress.com
May 2019
Facebook settlement with U.S. may include privacy oversight:
Politico, Reuters
May 2019
i.s.c. Group selects Hotshot Technologies to Mitigate Security Risk
and Enhance Global Collaboration Efficiency and Security, PR
Newswire
May 2019
Facebook's potential settlement with FTC will likely include
WhatsApp, Fashion Network
May 2019
Bandwidth Announces First Quarter 2019 Financial Results, PR
Newswire
May 2019
Foroya Tele awards Sinch order for Sinch Charging & Policy Control
platform, Telecompaper
May 2019
Here are four of Facebook’s most important announcements from
F8 2019, livemint.com
Key Recent News Key Recent News
May 2019
Snap to launch non-skippable commercials for premium shows,
Business of Apps
May 2019
Good news! Soon, WhatsApp users will get this new feature,
zeebiz.com
May 2019
FCR Media Reshapes Its Business, Registering Significant Gains in
Customer Experience and Productivity With Vonage’s
NewVoiceMedia Solution, Business Wire
May 2019
Puzzel ramps up social media capabilities with direct links to
WhatsApp and Trustpilot.com, directorsclub.news
May 2019 Facebook to add ‘shopping features’ to WhatsApp, Gadgets Now
Apr 2019
Facebook redesigns Workplace for improved team collaboration,
ZDNet
Apr 2019
Facebook Messenger is Coming to Windows and Mac as an App,
thematridox.com
Apr 2019
Facebook Messenger will get desktop apps, co-watching, emoji
status, TechCrunch
Apr 2019
WhatsApp is Temporarily Banning Users Who Use ‘GBWhatsApp’,
Techweez
Apr 2019
WhatsApp gains Product Catalogs and Account Kit support,
VentureBeat
Apr 2019
Facebook redesigns app, rolls out dating service to 14 more
countries, Reuters
Apr 2019
Wishfin forays into Insurance; launches 2-wheeler insurance on
Whatsapp, Asian News International

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
19
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in Mobile Communication; 2012-2019
Global Funding Trends (1/2)
21
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Mobile Communication > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 19% # of Rounds13% $ Funding
6% # of Rounds
2% $ Funding
$100M
$373M $406M
$1.6B
$797M
$2.5B
$619M
$757M $241M
0
20
40
60
80
100
120
140
$0k
$500M
$1.B
$1.5B
$2.B
$2.5B
$3.B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

62 74 82 74 42 31 35 1
15
32
33
25
21
25
18
7
8 4
11
9 10 7 5 1
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
85
9
Total # of Rounds
$39M
$55M
$72M $54M $49M $33M $86M
$120K$143M
$213M
$326M $125M $148M
$267M
$153M
$100M
$190M $138M $1.2B $618M $2.3B $320M $518M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
22
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Mobile Communication; 2012-2019
Mobile Communication > Investment Trends > Global Funding Trends
121
64
68
34
24
29
2
342
$1.5M $2.4M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
$4.0M
$4.5M
$5.0M
0
50
100
150
200
250
300
350
400
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.5M $2.7M $1.1M $4.6M $2.9M $3.5M $0.6M $2.4M
$72M
$215M $180M
$1.3B
$590M
$2.4B
$407M
$582M
$173M
5
0
2
4
6
8
10
12
14
0
500000000
1E+09
1.5E+09
2E+09
2.5E+09
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
5 3 13 5 10 6 5 2
$373M
$100M
Total $ Invested

Mobile Communication > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Mobile Communication
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 3.3B 284
Los Angeles 2.7B 28
Holmdel 644M 7
Delhi NCR 262M 9
New York City 190M 67
Toronto 140M 14
Mumbai 125M 12
Seoul 125M 15
Amsterdam 115M 13
Odivelas 100M 1
Total Funding
330
165
32
27
42
21
23
6
# Rounds
$7.2B
$626M
$396M
$158M
$149M
$128M
$53.1M
$18.9M
US
Europe
India
Canada
Israel
South Korea
SEA
Australia
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.8 $0.9 $1.1 $0.8
$1.7 $1.4
$3.0
2012 2013 2014 2015 2016 2017 2018
Mobile Communication > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Mobile Communication; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$8K* $50M
$200K $68.7M
$410K $60M
$10K $1.8B
$36.6M
$12M
$5M
$724K
Series C+
Series B
Series A
Seed
Stage
$20.7
$15.0 $12.2 $9.6 $12.4
$16.6
$13.1
$31.7 $34.5
$106.0 $77.3
$256.7
$53.3
$129.5
$6.8
$4.2
$11.1
$4.3
$7.6 $9.3 $8.8

Note: 240 companies with undisclosed funding amount are not included
25
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
134
172
85
13
8
No. of Companies
Mobile Communication > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Mobile Communication; as of May 2019
Distribution of companies by Funding Range
$49M
$542M
$1.7B
$906M
$5.6B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
18%
5%
3%
1%
26
Note: Numbers in the brackets show the count of companies
Time to raise
next round
39
88
185
637
3490
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
18% 1%
(50)
1%
(36)
0%
(7)
19%
(651)
63%
(2195)
29% 7%
(45)
5%
(30)
1%
(5)
20%
(130)
50%
(317)
48% 17%
(32)
9%
(17)
- 10%
(19)
42%
(78)
44% 33%
(29)
17%
(15)
- 5%
(4)
51%
(45)
- 54%
(21)
23%
(9)
- 3%
(1)
51%
(20)
Mobile Communication > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Mobile Communication
Funding Funnel
18 Months
20 Months
19 Months
Investment backedBootstrapped
14
12
98
17
34
3
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Mobile Communication > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Mobile Communication; May 2017-May 2019
Notable Investments in last 24 months (1/3)
LATE STAGE
$427M - Series H Aug 2018
enterprise teams.
Rowe Price, Wellington Management, Baillie Gifford,
Sands Capital
$250M - Series G Sep 2017
enterprise teams.
Accel, SoftBank Vision Fund
$50M - Series C Jan 2018
Ephemeral messaging app
SoftBank Group, Sequoia Capital
$35M - Series C Dec 2018
Messaging and communication app
Aspect Ventures, Harrison Metal, Sequoia Capital,
Greylock Partners, Tenaya Capital, DAG Ventures
LATE STAGE
$18.5M - Series C Dec 2017
Life360 (2008, San Francisco, $89.7M)
Mobile app that connects family members and close
friends
$8.8M - Series C Aug 2017
Ephemeral, encryption based secure communication
YouNow (2011, New York City, $36.4M)
Live video-streaming and chat app
Series G Jul 2018
enterprise teams.
Atlassian
LATE STAGE
Series C Mar 2019
Merlin International
Series C Jun 2017
Glympse (2008, Seattle, $31.2M)
Location sharing service
Liberty Global

EARLY STAGE
$60M - Series A Oct 2017
MessageBird (2011, Amsterdam, $60.1M)
Offers SMS, Chat & Voice API
Accel, Y Combinator, Atomico
$52M - Series B Feb 2019
Iconiq Capital, Shasta Ventures, August Capital, Y
Combinator, FundersClub
$28.2M - Series A Jun 2017
Plynk (2015, Dublin, $29M)
Money messenger app
$20.4M - Series B Aug 2017
Anonyome Labs (2014, Salt Lake City, $20.4M)
Mobile app studio developing apps focused on
privacy
Todd Davis
$20M - Series B Nov 2018
Eko Communications (2012, Bangkok, $28.7M)
Mobile Enterprise Communication
Gobi Partners, East Ventures, SMDV
EARLY STAGE
$20M - Series A Feb 2019
Mattermost (2015, Palo Alto, $23.5M)
Enterprise communication platform
Redpoint Ventures, s28 Capital, Y Combinator
$18.3M - Series B Sep 2017
Orion Labs (2013, San Francisco, $34.8M)
Wearable for group communication
Allen & Company, Argentum Group, Thermo Capital
Partners, John Kelly, Avalon Ventures, Motorola
Solutions, Fuel Capital, David Recordon, James
Lindenbaum
$16M - Series A Dec 2017
Shasta Ventures, August Capital, Y Combinator,
FundersClub
$14.2M - Series A May 2018
Avaamo (2014, Los Altos, $23.5M)
Mobile-first enterprise secure messaging
Intel Capital, Ericsson, Mahindra Partners, Wipro,
WI Harper Group
EARLY STAGE
$13M - Series A Sep 2018
Beekeeper (2012, Zurich, $26M)
Mobile first team communication platform
Atomico, Keen Venture Partners, Samsung NEXT,
Edenred Capital Partners, Investiere, Swiss Post,
Fyrfly Venture Partners, Alpana Ventures
$13M - Series A Nov 2017
Quidd (2015, Brooklyn, $19.8M)
Digital sticker provider for messaging apps
Sequoia Capital
$11M - Series A Jun 2018
Zingle (2009, Carlsbad, $15M)
Cloud based Messaging Platform
PeakSpan Capital
$9.3M - Series B Mar 2018
Speakap (2011, Amsterdam, $12M)
Tool for communication within organisation
Connected Capital

EARLY STAGE
$8.2M - Series B Jun 2017
Wavecell (2010, Singapore, $9.8M)
Cloud-based communication platform provider
Qualgro GP, MDI Ventures, Wavemaker Partners
$8M - Series B Jun 2018
Rebtel (2006, Nacka, $28M)
Cheap international calling app
Balderton Capital, Index Ventures
$5.2M - Series A Oct 2018
Siilo (2015, Amsterdam, $5.2M)
Secure messaging app for medical teams
EQT Ventures
$4.7M - Series A Jul 2017
TeleStax (2011, Austin, $7.9M)
Real time communication solutions
LiveOak Venture Partners
$3.1M - Series A Mar 2019
Teckst (2014, New York City, $5.7M)
Text messaging software for enterprises
EARLY STAGE
$2.4M - Series A Feb 2019
TeleStax (2011, Austin, $7.9M)
Real time communication solutions
$2M - Series A Aug 2017
Eko Communications (2012, Bangkok, $28.7M)
Mobile Enterprise Communication
ITOCHU, Gobi Partners
$200k - Series A Jun 2017
Lua (2010, New York City, $18.2M)
Messenger for mobile workforces
Series A Sep 2018
Moxtra (2013, Cupertino, $20M)
Mobile content collaboration service
Plug and Play Tech Center
Series A Sep 2018
Slick Innovations (2011, Jamestown)
Text message marketing solutions
Main Street Capital, Iron Creek Partners
SEED STAGE
$50M - Angel Feb 2018
Signal (2013, San Francisco, $50M)
Ephemeral communication app
Brian Acton
$3M - Seed Jun 2017
Tribe (2015, San Francisco, $6.5M)
Video calling and messaging app
Kleiner Perkins, Expon Capital
$2M - Seed Mar 2018
Wipro

Mobile Communication > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$70M - Series C Nov 2018
Agora (2014, Guangzhou, $125M)
Real time audio and video communication solution
Coatue, SIG, Shunwei Capital, Morningside Group
EARLY STAGE
$45M - Series B Aug 2017
UCPaas (2014, Shenzhen, $62.6M)
Communication service provider cloud platform
Mangrove Capital, M800, Chengwei Capital, Legend
Capital, China Renaissance Group
$30M - Series B Jun 2018
Agora (2014, Guangzhou, $125M)
Real time audio and video communication solution
IDG Capital, SIG China, GGV Capital, Shunwei Capital,
Morningside venture Capital
$22M - Series A Aug 2018
Bullet SMS (2018, Chaoyang, $22M)
Voice and text messaging application
Smartisan Technology

Most Active Investors (VC, PE) by Stage in Mobile Communication; Last 5 years (May 2014-May 2019)
Most Active VC & PE Investors
31
Mobile Communication > Investment Trends > Most Active VC & PE Investors
SEED STAGE
SV Angel (5 Investments)
Tapstack, Projector, OneSignal
1
Betaworks(5 Investments)
Bunch, Sochat, Unmute
2
Greylock Partners (4 Investments)
Sochat, Gather, Crew
3
Foundation Capital (3 Investments)
Sochat, Lollicam, WutWut
4
Greycroft Partners (3 Investments)
Unmute, Cord, Dasher App
5
East Ventures(3 Investments)
Pocket Video, VideoSelfie App, Unda
6
Partech(3 Investments)
Tribe, Pleek, Candex
7
Sequoia Capital (3 Investments)
Samosa, Tribe, Crew
8
Venrock (3 Investments)
Quiq, Shift Messenger, Dasher App
9
Floodgate Fund (3 Investments)
Dolo, Umuse, Gather
10
EARLY STAGE
Sequoia Capital(2 Investments)
Quidd, Rounds
1
Benchmark (2 Investments)
Marco Polo, Zenly
2
Kleiner Perkins(2 Investments)
Bitmoji, Bitstrips
3
Accel (2 Investments)
Meow Me, MessageBird
4
Bessemer Venture Partners (2
Investments)
Retrica, Rabbit
5
Index Ventures(2 Investments)
Sinch, Secret
6
Balderton Capital(2 Investments)
Sinch, Pusher
7
August Capital(2 Investments)
SendBird, OpenGarden
8
Atomico (2 Investments)
Beekeeper, MessageBird
9
Redpoint Ventures(2 Investments)
Mattermost, Secret
10
LATE STAGE
Sequoia Capital(2 Investments)
Snow, Snapchat
1
Kleiner Perkins(2 Investments)
Snapchat, Slack
2
Comcast Ventures(2 Investments)
YouNow, Slack
3
General Atlantic (2 Investments)
Snapchat, Slack
4
IVP
Slack
5
Norwest Venture Partners
TigerText
6
DAG Ventures
Crew
7
Spark Capital
Slack
8
SV Angel
Kik
9
GV
Slack
10

Mobile Communication > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Mobile Communication; Last 5 years (May 2014-May 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Y Combinator(13 Investments)
Emojer, OpenPhone Technologies, Outvote
1
500 Startups(10 Investments)
Bunch, Mojilala, GlobeKeeper
2
Techstars(8 Investments)
Jargon, SendBird, Talio
3
Wayra(5 Investments)
Zero, Hibox, Voicemod
4
Plug and Play Tech Center(5 Investments)
Waldo, Beekeeper, Moxtra
5
NFX(4 Investments)
Zula App, Highlight, Candex
6
DG Incubation(3 Investments)
DabKick, Glide, Twilio
7
Dreamit(3 Investments)
Tappi, YapTap, Acorn
8
FF Venture Capital(2 Investments)
Memo, DormChat
9
FasterCapital(2 Investments)
Cfc.io, Avox
10
OTHER NOTABLE INVESTORS
Kima Ventures(7 Investments)
Askip, Tribe, After School
1
FundersClub(3 Investments)
SendBird, SendHub, Slack
2
T. Rowe Price(3 Investments)
Twilio, Snapchat, Slack
3
CAA Ventures(3 Investments)
MeRightNow, Blend, Airtime
4
Tencent(2 Investments)
Kik, Hike Messenger
5
Microsoft Ventures(2 Investments)
Reveal Chat, DabKick
6
SoftBank Group(2 Investments)
Mirror, Snow
7
Google(2 Investments)
True Emoji, WePopp
8
Facebook(2 Investments)
Ohai, DeeMe
9
Deutsche Telekom(2 Investments)
Immmr, Nexmo
10
DEBT INVESTORS
Idinvest Partners(2 Investments)
Zenly, Family Wall
1
Horizon Technology Finance(2
Investments)
Mblox, IntelePeer
2
TPG
Kakao Talk
3
Silicon Valley Bank
Vonage
4
Harbert Management
Tyntec
5
Decathlon Capital Partners
Telintel
6

Mobile Communication > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/5)

Mobile Communication > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
39
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Matchmaking
Mar 2019
Social Platforms
Mar 2019
Auto E-Commerce & Content
Mar 2019

Marketmap: Mobile Communication Mobile Communication > Market Details > BlueBox
41

Key Sub Sectors
42
Key Sub Sectors in Mobile Communication
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Ephemeral
Apps that allow sending short-lived messages or messages that can be deleted by the sender
Snapchat (2011, Los Angeles, Public)
137 25 $2.9B
Enterprise
Apps that help employees in intra-organisation communication
Zinc (2013, San Francisco, Acquired)
250 78 $1.9B
Calling
Apps that connect users to phones or other app users through voice or video calling
Vonage (2001, Holmdel, Public)
645 96 $1.6B
Messaging
Apps that allow sending messages in the form of text, pictures, videos, etc.
WhatsApp (2009, Santa Clara, Acquired)
Hike Messenger (2012, Delhi, $261M)
1117 233 $1.2B
CPaaS
Companies that provide CPaaS (Communication Platform as a Service) in the form of APIs,
SDKs, and A2P dashboards that can be used by developers and bu...
Twilio (2007, San Francisco, Public)
Realtime (1997, Odivelas, $100M)
716 113 $1.1B
Content
Apps that support messaging apps through creative content, content creation platforms, etc.
Bitstrips (2007, Toronto, Acquired)
Quidd (2015, Brooklyn, $19.8M)
295 35 $103M
App Community chat
Apps that help users discover and converse with strangers from the community of fellow app
users
Skout (2007, San Francisco, Acquired)
After School (2014, San Francisco, $16.4M)
298 47 $91.4M
Cross Messenger Platforms
Stand-alone apps that allow access to several messenger apps
Xumii (2006, San Mateo, Acquired)
Shape (2002, Stuttgart, $10M)
31 9 $40.4M
Mobile Communication > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/6)
43
Mobile Communication > Market Details > Detailed Sector Taxonomy

44

45

46

47

48

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Enterprise > Messaging
Apps that focus on communication through messaging
(Companies covered 155 | Funded 46 | Total Funding $1.6B)
$808M
(+$506M)
20
(-3)
Slack
2
(+1)
CPaaS > P2P > Messaging
Companies providing communication APIs for P2P messaging
(Companies covered 78 | Funded 27 | Total Funding $297M)
$94.1M
(+$71.5M)
7
(-)
SendBird
(2013, San Francisco, $68.1M)
3
(-1)
Enterprise > Messaging > Vertical focused
Apps that are designed for specific sectors like healthcare, education, etc
$23.4M
(-$41.4M)
7
(+1)
mPulse Mobile
(2014, Los Angeles, $25.7M)
4
(+2)
Content > Emojis and Stickers
Apps that provide emojis and stickers which can be used while messaging
(Companies covered 162 | Funded 12 | Total Funding $42.6M)
$28.2M
(+$16M)
5
(-)
Quidd
(2015, Brooklyn, $19.8M)
5
(-1)
CPaaS > P2P > Calling
Companies providing communication APIs for P2P calling; may provide for messaging also
$21.7M
(-$11.8M)
5
(-)
Africa's Talking
(2010, Nairobi, $8.6M)
6
(-1)
CPaaS > Horizontal
Companies that provide CPaaS for both P2P and A2P communication
$67.1M
(-$63.8M)
4
(-)
MessageBird
(2011, Amsterdam, $60.1M)
7
(-)
CPaaS > A2P
Platforms for businesses to manage mass communication through SMS, MMS, etc.
$11.9M
(-$9.6M)
4
(-)
Quiq
(2015, Bozeman, $9.5M)
49
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in Mobile Communication in last 2 years (May 2017 - April 2019)
Mobile Communication > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Enterprise > Messaging
Apps that focus on communication through messaging
(Companies created 155 | Funded 46 | Total Funding $1.6B )
2
2
CPaaS > Horizontal
Companies that provide CPaaS for both P2P and A2P communication
(Companies created 59 | Funded 13 | Total Funding $416M )
1 MessageBird (2011, Amsterdam, $60.1M)
3
Content > Emojis and Stickers
Apps that provide emojis and stickers which can be used while messaging
(Companies created 162 | Funded 12 | Total Funding $42.6M )
1 Quidd (2015, Brooklyn, $19.8M)
4
Content > Content creation > Emojis & Stickers
Apps that help users to create or customize emojis and stickers
(Companies created 56 | Funded 7 | Total Funding $15.8M )
1 Mirror (2017, Palo Alto, $3.7M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
50
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (May 2017 - April 2019)
Mobile Communication > Market Details > Top Markets of Early Stage Investors

Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Content > Content creation > Emojis & Stickers
Apps that help users to create or customize emojis and stickers
(Companies covered 56 | Funded 7 | Total Funding $15.8M)
17 $3.8M
(+$3.8M)
3
(+3)
Mirror
(2017, Palo Alto, $3.7M)
2
Messaging > Generic > Multimedia > Horizontal > with calling
Apps that support video or voice calling as a feature
30 $0
(0)
0
(-)
Kakao Talk
(2010, Seongnam-si,
Public)
51
Other Notable Markets with high Entrepreneurial Activity in Mobile Communication in last 2 years (May 2017 - April 2019)
Mobile Communication > Market Details > Other Notable Markets

Incubators Y Combinator (#2), Venture Kick (#2)
Seed Index Ventures (#1), Sequoia Capital (#1)
Series A/B Edenred Capital Partners (#1), Andreessen Horowitz (#1)
Series C+ Kleiner Perkins (#1), GV (#1)
Lua Oct - 2018
Acq by Life Biosciences
Pie Feb - 2016
Acq by Google
Glip Jun - 2015
Acq by RingCentral
Talk.co Oct - 2013
Acq by BranchOut
Parlano Aug - 2007
Acq by Microsoft
$6.3M - Series A
Ryver (2011, Phoenix, $17M)
$20M - Series A
$15.3M - Series B
Teamblind (2013, San Francisco,
$25.1M)
$35M - Series C
Seed
Qwil Messenger (2017, London)
$13M - Series A
$427M - Series H
$110k - Seed
Gravatate (2014, Reston, $110k)
May 2019
i.s.c. Group selects Hotshot Technologies to Mitigate Security
Risk and Enhance Global Collaboration Efficiency and
Security, PR Newswire
Apr 2019
Slack vocab game that gave away money for no real reason is
getting shut down, The Verge
Apr 2019
Slack is ‘the only company in the world’ that looks like
Facebook and isn’t public: Board member Chamath
Palihapitiya, CNBC
Apr 2019
Slack puts forward direct listing details, Global Corporate
Venturing
Apr 2019
Slack Technologies S-1 Reveals $250 Million AWS Cloud
Deal, ReadITQuik
Apr 2019
Here's who's getting rich on Slack's multi-billion dollar IPO,
Business Insider
Apr 2019
Slack Files to go Public on the NYSE under Symbol SK,
Financial Buzz
Apr 2019
Slack is loss-making but revenue continues to grow, filing
shows, Reuters
Apr 2019 Slack files to goes public via direct listing on NYSE, ZDNet
Apr 2019
Slack files to go public via direct listing, revealing finances
for the first time, SiliconAngle
Apr 2019 Slack Just Filed for an IPO – Here’s What it Reveals, CBROnline
Apr 2019
Goodwin Procter, Latham To Steer Slack's Direct Listing,
Law360
Apr 2019
Slack Extends Its Collaboration to Now Include Email,
AiThority
News
5
4
21
46
155
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Enterprise > Messaging: Market Factsheet
52
Exits
Recent InvestmentsApps that focus on communication
through messaging
Slack
Crew
FALSE
(2014, Mumbai, $45M)
Beekeeper
(2012, Zurich, $26M)
Top Companies
#1 Top Markets of Investment Activity
Mobile Communication > Market Details > Market: Messaging
Companies Created 155 | Funded 46 | Total Funding $1.6B
0
20
40
$0k
$500M
$1.B
$1.5B
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Messaging

Enterprise > Messaging: Top Companies
Market: Messaging (1/2)
Analyst’s Pick
enterprise teams.
Unicorn. Stage: Series H
Rowe Price and 30 Other Investors
Minicorn. Stage: Series C
Aspect Ventures, Harrison Metal, Sequoia Capital
Flock (2014, Mumbai, $45M)
Online collaboration software and messaging
platform for professional environments
Editor's Pick. Stage: Series C
Mobile first team communication platform
Minicorn. Stage: Series A
Atomico, Keen Venture Partners, Samsung NEXT
Analyst’s Pick
Intel Capital, Ericsson, Mahindra Partners and 11
Other Investors
Redpoint Ventures, s28 Capital, Y Combinator and 3
Other Investors
Lua (2010, New York City, $18.2M)
Messenger for mobile workforces
Minicorn. Stage: Acquired
Abundance Partners, IA Ventures, Techstars and 5
Other Investors
Ryver (2011, Phoenix, $17M)
Team communication tool
Editor's Pick. Stage: Series A
Kickstart Seed Fund, Grayhawk Capital, Arizona
Tech Investors
Analyst’s Pick
Speakap (2011, Amsterdam, $12M)
Tool for communication within organisation
Minicorn. Stage: Series B
Connected Capital, Walvis Group
Zula App (2012, Tel Aviv, $4.4M)
Team communications on mobile
OurCrowd, Microsoft Ventures, Rhodium and 8
Other Investors
Shift Messenger (2014, San Francisco, $1.6M)
Enterprise messaging app focused on shift workers
Minicorn. Stage: Seed
Kapor Capital, Venrock, Commerce Ventures and 7
Other Investors
Yapster (2015, London, $277k)
Workplace messaging app for retail and hospitality
teams
Editor's Pick. Stage: Seed
Kiara (2018, Shibuya)
Business chatting tool with chat transcribing
Editor's Pick. Stage: Unfunded

Enterprise > Messaging: Top Companies
Market: Messaging (2/2)
Analyst’s Pick
Messagenius (2012, Rome)
Enterprise messaging and collaboration platform
Symvan Capital
TeamToq (2014, Palo Alto)
Enterprise collaboration tool
Trengo (2015, Utrecht)

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
55
Enterprise > Messaging: Leaderboard
Better than Market Average
Market: Messaging
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Slack 2009
San
Francisco
Series H $1.3B 10 - 4 - - 389.7k 30M 56.2k 424 4.5k 9% 21.8k 6%
4.3 Crew 2015
San
Francisco
Series C $59.9M 4 5 5 - - 2k 3M 5.6k 3 1.2k 27% 27 1%
4.1 Flock 2014 Mumbai Series C $45M 2 5 4 3 - 15.8k 300k 1.8k 25 210 14% 5.7k 56%
4.1 Beekeeper 2012 Zurich Series A $26M 4 - 4 - - 2.9k 90k 424 21 106 33% 38 1%
3.7 Speakap 2011 Amsterdam Series B $12M 4 - 4 - - 663 82k 206 5 8 4% 62 10%
3.7 Teamblind 2013
San
Francisco
Series B $25.1M 4 - 4 - - 10 3M 6.1k 3 2.3k 58% - -
3.6 Lua 2010
New York
City
Acquired $18.2M 7 - 5 - - 1.5k 30k 162 1 32 25% 9 1%
3.5 Mattermost 2015 Palo Alto Series A $23.5M 2 - 3 2 4 61 378k 954 2 212 29% 18 42%
3.4 Ryver 2011 Phoenix Series A $17M 5 5 3 - - 3.6k 75k 301 - 27 10% 73 2%
3.4 Avaamo 2014 Los Altos Series A $23.5M 4 - 4 - - 4k 300k 1.2k 9 23 2% -26 -1%
3.3 ChatWork 2012 Sunnyvale Series B $15M 2 - 4 - - 1.1k 750k 1.9k 2 178 11% -19 -2%
3.1 IRCCloud 2010 London Seed $760k 1 - 4 - - 3.9k 303k 1.6k - 49 3% 26 1%
3.1 Talknote 2010 Minato Series A $3.1M 3 - 3 - - 384 75k 227 - 13 6% 47 14%
3.0 Toss Lab 2014 Seoul Series A $12M 5 - 4 - - 75 300k 1.3k 5 94 8% -7 -9%
3.0 Fleep 2012 Tallinn Seed $2.1M 3 - 5 - - 5k 30k 432 4 79 22% -267 -5%

Incubators Y Combinator (#3), Techstars (#1)
Seed SV Angel (#2), IDG ventures (#1)
Series A/B
New Enterprise Associates (#1), Charles River Ventures
(#1)
Series C+ Sequoia Capital (#1), Viola Group (#1)
Hipmob Mar - 2017
Acq by Conversocial
Jeapie Nov - 2015
Acq by Mobify
IDT messaging Apr - 2014
Acq by IDT
Push IO Jan - 2014
Acq by Responsys
Boxcar Jul - 2012
Acq by Kwaga
3jam May - 2011
Acq by Skype
Intercasting May - 2009
Acq by Good Technology
$52M - Series B
$120k - Seed
CometChat (2015, Mumbai, $120k)
Seed
Qwil (2017, London)
$11M - Series A
$8M - Series A
Pusher (2010, London, $9M)
$16M - Series A
May 2019
SendBird raises additional $50 million Series B to ramp up
global demand for in-app messaging; now surpasses 1 billion
messages per month, TechStartups.com
Apr 2019
OneSignal Grows Usage by 50% and Makes Key Hires, PR
Newswire
Feb 2019
SendBird snags $52M Series B to expand messaging API tool,
TechCrunch
Feb 2019
SendBird Achieves SOC2 Compliance Demonstrating its
Commitment to Secure In-App Chat and Messaging, Business
Wire
Jan 2019
Communication Platform as a Service startup CometChat
selected for Techstars Boulder accelerator program,
NewsBarons
Jan 2019
Startup CometChat gets seed funding from Techstarts
Boulder, Indiatimes
Jan 2019
Swiggy’s Chatbot, Powered By Layer’s Conversation
Platform, Sees High Customer Adoption, AiThority
Nov 2018 Pusher's Chatkit Now Generally Available, ProgrammableWeb
Nov 2018
Shoreditch startup Pusher heads across the pond in US
expansion, City A.M.
Oct 2018 Schroders take stake in Cobalt startup graduate, Finextra
May 2018
Schroders opts for instant messaging FinTech as first Cobalt
member, The TRADE
Dec 2017 Communications Startup Brings In $1 Million, NewsCenter
Dec 2017
Zingle Teams with TripAdvisor to Automate Hospitality
Reviews Via Text , PRWeb
Sep 2017 Layer Successfully Achieves HIPAA Compliance, 4-Traders
News
8
4
13
27
78
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
CPaaS > P2P > Messaging: Market Factsheet
56
Exits
Recent InvestmentsCompanies providing
communication APIs for P2P
messaging
Realtime
(1997, Odivelas, $100M)
SendBird
Layer
Intercasting
(2004, San Diego, $17.5M)
Zingle
(2009, Carlsbad, $15M)
Top Companies
Companies Created 78 | Funded 27 | Total Funding $297M
0
5
10
$0k
$20M
$40M
$60M
2014 2015 2016 2017 2018
Market: Messaging

CPaaS > P2P > Messaging: Top Companies
Market: Messaging
Analyst’s Pick
Iconiq Capital, Shasta Ventures, August Capital and
4 Other Investors
Layer (2013, San Francisco, $37M)
API provider for multimedia messaging
Minicorn. Stage: Series B
Greycroft Partners, Salesforce, CME Group and 18
Other Investors
Cloud based Messaging Platform
PeakSpan Capital, Rincon Venture Partners,
Crosscut, Bonfire Ventures
Pusher (2010, London, $9M)
Realtime messaging platform
Balderton Capital, Heavybit, SaaS Capital and 4
Other Investors
Analyst’s Pick
AppLozic (2015, Bangalore)
Developer tool kit for integration of messaging
feature in web/mobile apps

58
CPaaS > P2P > Messaging: Leaderboard
Market: Messaging
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Pusher 2010 London Series A $9M 3 - - - - 10.6k - - 5 - - 56 1%
5.0 Zingle 2009 Carlsbad Series A $15M 5 - - - - 1.5k - - 5 - - 24 2%
4.8 OneSignal 2014
San
Francisco
Series A $9.3M 3 - 4 - - - 7.4M 27.2k 7 261 1% - -
4.3 SendBird 2013
San
Francisco
Series B $68.1M 3 - - - - 4.8k - - 6 - - -58 -1%
4.1 Layer 2013
San
Francisco
Series B $37M 7 - - - - 4 - - 7 - - - -
4.1 CometChat 2015 Mumbai Seed $120k 1 - 3 - - 759 33k 417 2 6 1% 13 2%
3.8 Intercasting 2004 San Diego Acquired $17.5M 2 - - - - - - - 5 - - - -
3.2 Followap 1999
New York
City
Acquired $14M 3 - - - 4 - - - - - - - -
3.1 Qwil 2017 London Seed - 1 - 5 - 4 - 75 5 2 - - - -
3.1 Webaroo 2004 Mumbai Series A $11M 1 - - - - 80 - - 1 - - - -
3.0 3jam 2005
San
Francisco
Acquired $5M 2 - - - - 450 - - 1 - - -8 -2%
2.9 Jivochat 2012 Moscow Unfunded - - - 4 - - - 303k 6.4k 1 2.6k 67% - -
2.9 Hipmob 2012 Palo Alto Acquired $120k 1 - - - - 342 - - 1 - - -6 -2%
2.9 Jeapie 2013 Kyiv Acquired $50k 3 - - - - 105 - - 1 - - -2 -2%
2.8 Syncapp 2016 Irving Unfunded - - - 5 5 3 30 75k 531 - 81 18% -1 -3%

Incubators
University of Toronto Early Stage Technology (#1),
Jumpstart (#1)
Seed OCA Ventures (#1), Omidyar Network (#1)
Series A/B Shasta Ventures (#1), Orbimed (#1)
Series C+ Norwest Venture Partners (#1), Invus Group (#1)
None
Seed
Agenda Edu (2014, Fortaleza, $926k)
$5.2M - Series A
$3.9M - Seed
Forward (2016, London, $3.9M)
$11M - Series B
mPulse Mobile (2014, Los Angeles,
$25.7M)
$926k - Seed
Agenda Edu (2014, Fortaleza, $926k)
$820k - Seed
OpenCity (2016, Boston, $820k)
$1.5M - Seed
Twistle (2008, Albuquerque, $2.4M)
Seed
Myly (2015, Jaipur, $250k)
Seed
Hypercare (2016, Toronto)
$13M - Series A
mPulse Mobile (2014, Los Angeles,
$25.7M)
$100k - Seed
Myly (2015, Jaipur, $250k)
Feb 2019
Twistle Brings Surgery Patients and Care Teams Closer
Together at Providence St. Joseph Health, Business Wire
Oct 2018
mPulse Mobile Recognizes Excellence in the Healthcare
Industry with its First Annual Activate Awards, PRWeb
Oct 2018 EQT leads €4.5 million fundraising for Siilo, Angel News
Oct 2018
Forward Health, the healthcare messaging app, scores $3.9M
led by Stride.VC, TechCrunch
Oct 2018
Messaging app for healthcare pros Siilo locks in funding, PE
Hub
Jul 2018
Medic Bleep App at the Forefront of the NHS' Technology
Transformation, PR Newswire
May 2018
mPulse Mobile adds Cody Nystrom to its Board along with
raising $11m Series B funding led by SJF Ventures,
Talent4Boards
Mar 2018 TigerText Becomes TigerConnect, TexasTechPulse
Aug 2017
ABQ medtech startup lands $1.5 million in funding, The
Business Journals
Apr 2017 EdTech startup myly gets fresh funds to scale, Indiatimes
Dec 2016 Reflections on 2016: Brad Brooks, TigerText, SocalTECH
Jun 2016
How Mappr is optimizing existing learning process using
data science, YourStory Media
Apr 2016
mPulse Mobile’s Strong 2016 Start Driven By $13M in
Funding, Key Customer Additions - mPulse Mobile, mPulse
Mobile
Jan 2016
App For School-Parent Interaction, Myly, Raises Seed
Funding - Inc42 Media, Inc42
News
-
1
3
12
38
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Enterprise > Messaging > Vertical focused: Market Factsheet
59
Exits
Recent InvestmentsApps that are designed for specific
sectors like healthcare, education,
etc
TigerText
(2010, Santa Monica, $81.1M)
mPulse Mobile
(2014, Los Angeles, $25.7M)
Siilo
(2015, Amsterdam, $5.2M)
Forward
(2016, London, $3.9M)
Twistle
(2008, Albuquerque, $2.4M)
Top Companies
Mobile Communication > Market Details > Market: Vertical focused
0
5
10
15
$0k
$20M
$40M
$60M
2014 2015 2016 2017 2018
Market: Vertical focused

Enterprise > Messaging > Vertical focused: Top Companies
Analyst’s Pick
TigerText (2010, Santa Monica, $81.1M)
Secure Enterprise Texting
Norwest Venture Partners, Invus Group, Accolade
Secure messaging app for medical teams
EQT Ventures
Twistle (2008, Albuquerque, $2.4M)
Email and text messaging for patients
Editor's Pick. Stage: Seed
SSS Ventures, SK Ventures
SimplyCircle (2014, San Francisco)
Group communication platform for schools

61
Enterprise > Messaging > Vertical focused: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0
mPulse
Mobile
2014 Los Angeles Series B $25.7M 3 - - - - 490 - - 11 - - 20 4%
5.0 Agenda Edu 2014 Fortaleza Seed $926k 2 - 4 - 4 35 300k 5.2k - 2.7k 107% 10 40%
4.8 Siilo 2015 Amsterdam Series A $5.2M 1 4 5 3 3 939 75k 125 2 26 26% 574 157%
4.7 TigerText 2010
Santa
Monica
Series C $81.1M 4 - - - - 8 - - 15 - - 2 33%
4.3 Myly 2015 Jaipur Seed $250k 2 - 4 - - 993 119k 2.3k 3 413 23% -27 -3%
4.3 Forward 2016 London Seed $3.9M 1 - 4 - 3 986 3k 12 1 3 33% 349 55%
3.6
PreciouStatu
s
2011 Minnesota Seed $1.2M 1 5 4 - - 781 82k 318 - 1 - -11 -1%
3.4 Hypercare 2016 Toronto Seed - 1 - 5 - 3 133 300 5 - 3 150% 22 20%
3.1 Medic Bleep 2015
Stratford-
upon-avon
Unfunded - - - 4 4 4 378 3k 25 1 4 19% 162 75%
2.7 Komeer 2015 Dublin Unfunded - - 3 4 5 4 71 8k 24 - 12 100% - -
2.7 Twistle 2008
Albuquerqu
e
Seed $2.4M 3 - - - - - - - 2 - - - -
2.4 Mediprocity 2009
Chesterfiel
d
Unfunded - - - 4 - 5 521 8k 21 - 4 24% -12 -2%
2.4 MyBeepr 2016 Sydney Funded - - - - - 4 82 - - - - - 3 4%
2.3 SimplyCircle 2014
San
Francisco
Unfunded - - 5 4 - - 684 8k 15 1 1 7% -7 -1%

Mobile Communication > Market Details > Market: Emojis and Stickers
Companies Created 162 | Funded 12 | Total Funding $42.6M
Market: Emojis and Stickers

Mobile Communication > Market Details > Market: Calling
Market: Calling

Market: Calling

Mobile Communication > Market Details > Market: Horizontal
Market: Horizontal

Market: Horizontal

Mobile Communication > Market Details > Market: A2P
Market: A2P

Market: A2P

#4 Top Markets of Early Stage Investors
Mobile Communication > Market Details > Market: Emojis & Stickers
Companies Created 56 | Funded 7 | Total Funding $15.8M
Market: Emojis & Stickers

#2 Other Notable Markets
Mobile Communication > Market Details > Market: with calling
Market: with calling

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
80
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/3)
82
Performance indicators of public companies in Mobile Communication
IPO Date Company
IPO
Mcap
Exchange
Ticker
Nov 2017
Bandwidth (1999, Raleigh)
$352M NASDAQ:BAND
Mar 2017
Snapchat (2011, Los Angeles)
NYSE:SNAP
Jul 2016
Line (2011, Tokyo)
LN
Jun 2016
Twilio (2007, San Francisco)
$1.2B NYSE:TWLO
Jun 2016
HearMeOut (2012, Tel Aviv)
$9.7M HMO
May 2016
Hello Pal (2013, Hong Kong)
Messaging app for different languages
CNSX:HP
Sep 2015
CLX Communications (2015, Stockholm)
STO:CLX
Jul 2015
MySQUAR (2013, Yangon)
Social chat app
$29M LON:MYSQ
Jun 2012
CounterPath (2002, Vancouver)
Desktop and mobile VOIP software and solutions provider
NASDAQ:CPAH
Oct 2010
Kakao Talk (2010, Seongnam-si)
Mobile messenger app
KRX:35720
Mobile Communication > Exit Outlook > Public Companies

83
IPO Date Company
IPO
Mcap
Exchange
Ticker
Dec 2009
GINSMS (2002, Singapore)
Mobile technology and services company
$5.6M CVE:GOK
May 2006
Vonage (2001, Holmdel)
Offers VoIP services
$2.6B NYSE:VG
Nov 2004
Chunghwa Telecom Data Communication (1991, Taipei)
Cloud-based unified communication solutions provider
TPE:3516
Jul 2000
WebEx (1995, Santa Clara)
On-demand applications for businesses to conduct web conferencing
$506M NASDAQ:WEBX
Jun 1995
Norwood Systems (2011, Nedlands)
Cost-effective mobile roaming voice, messaging and data services
provider
ASX:NOR
Upco International (2017, Surrey)
Wholesale voice termination and Blockchain payment services
provider
WhizXpress (2014, Zug)
Mobile application for VOIP calling
NetTALK (2008, Miami)
VoIP solutions provider
FIRST NORTH
NORWAY:LINKo

84
IPO Date Company
IPO
Mcap
Exchange
Ticker
Firstin Wireless (2005, Montreal)
Long distance and roaming services provider
Boss Revolution (2008, Newark)
Prepaid International Calling and Payment Services

Notable Acquisitions (1/4)
85
Notable Acquisitions in Mobile Communication
Mobile Communication > Exit Outlook > Notable Acquisitions
2019 YTD
Acquirer: ServiceMax
Zinc (2013, San Francisco, $31.5M)
Secure and ephemeral mobile messaging for field
workforce
2018
Acquirer: Vonage Deal: $35M
TokBox (2007, San Francisco, $26M)
WebRTC API & SDK's Provider
Acquirer: ABRY Partners Deal: $403M
2017
Acquirer: Snapchat Deal: $213M
Zenly (2011, Paris, $33.7M)
Mobile app for sharing real-time location
Acquirer: Mara
Nimbuzz (2006, Rotterdam, $25M)
Cross-platform mobile calling and messaging app
Acquirer: Kik
Rounds (2008, Tel Aviv, $21.5M)
A mobile video calling application.
Acquirer: Deal: $1B
Talking Tom for Messenger (2009, Limassol)
Messaging app with animated characters

86
2016
Bitstrips (2007, Toronto, $11M)
Emoji and sticker generation app
Acquirer: MeetMe Deal: $54.6M
Skout (2007, San Francisco, $26.6M)
Mobile dating and people discovery application
Acquirer: CLX Communications
Deal: $117M
Mblox (2000, Sunnyvale, $79.6M)
Mobile Messaging For Brands
Acquirer: Vonage Deal: $230M
Nexmo (2010, San Francisco, $22M)
Cloud SMS API
Bitmoji (2019, Toronto, $11M)
App for messaging with emojis
2015
Looksery (2013, San Francisco)
App to add facial effects on video chat
Acquirer: Amazon
Biba (2012, San Francisco, $20M)
Mobile based business conferencing and messaging
2014
Acquirer: Yahoo
Cooliris (2006, San Francisco, $27.6M)
Mobile messaging solution provider for consumers
Acquirer: Rakuten Deal: $900M
Viber (2010, Tel Aviv)
Free calls via smartphone app
Acquirer: Facebook Deal: $22B
Cross platform Instant messaging platform

87
2013
Acquirer: Genband Deal: $50M
Fring (2006, Bnei Brak, $30M)
Free mobile video calls, voice calls and live chat
2011
Acquirer: Microsoft Deal: $8.5B
VoIP Software application
2010
Acquirer: Qualcomm
iSkoot (2005, San Francisco, $32.2M)
Mobile VOIP calling service
Acquirer: DST Global Deal: $188M
ICQ.com (1997, Tel Aviv)
Instant Messaging app with video call feature

88
2009
Acquirer: Sabse Technologies
Jaxtr (2005, Menlo Park, $21.5M)
VOIP phone calls provider to mobile phones
Before 2008
Acquirer: America Online Deal: $850M
Bebo (2005, San Francisco, $15M)
Web Social Networking portal & social app
developer
Acquirer: Cisco Deal: $2.9B
WebEx (1995, Santa Clara, $25M)
On-demand applications for businesses to conduct
web conferencing
Acquirer: Neustar Deal: $139M
Followap (1999, New York City, $14M)
Pioneer in mobile device based messenger

Most Active Acquirers
89
Mobile Communication > Exit Outlook > Most Active Acquirers

Acqui-hires
90
List of Acqui-hires in Mobile Communication
Excludes all details for Chinese companies
Date Target
Dec-17 Fete Acq by Evite
Nov-17 Fluenty Acq by Samsung
Dec-15 Talko Acq by Microsoft
Jun-15 Leo Acq by Lyft
Sep-14 Polar Acq by Google
Aug-13 Plustxt Acq by One97 Communications
SkyMobius Acq by WhatsApp
Mobile Communication > Exit Outlook > Acqui-hires
View all 7 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
91
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Mobile Communication > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Mobile Communication; Last 5 years (May 2014 - Apr 2019)
Index of Most Active VC & PE Investors
SEED STAGE
SV Angel (5 Investments)
Betaworks (5 Investments)
Greylock Partners (4 Investments)
Foundation Capital (3 Investments)
Greycroft Partners (3 Investments)
Venrock (3 Investments)
East Ventures (3 Investments)
Partech (3 Investments)
Floodgate Fund (3 Investments)
CyberAgent Ventures (3 Investments)
KLab Ventures (3 Investments)
Kleiner Perkins (2 Investments)
GV (2 Investments)
Social Capital (2 Investments)
EARLY STAGE
Accel (2 Investments)
Benchmark (2 Investments)
Bessemer Venture Partners (2 Investments)
Index Ventures (2 Investments)
Redpoint Ventures (2 Investments)
Balderton Capital (2 Investments)
Atomico (2 Investments)
August Capital (2 Investments)
Rincon Venture Partners (2 Investments)
SV Angel
Andreessen Horowitz
New Enterprise Associates
Menlo Ventures
LATE STAGE
Comcast Ventures (2 Investments)
General Atlantic (2 Investments)
SV Angel
GV
Horizons Ventures
Index Ventures
DAG Ventures
Norwest Venture Partners
Venrock
Spark Capital
IVP
Verizon Ventures
GGV Capital

SV Angel
94
Portfolio in Mobile Communication | Exits | Funds Link | Website | LinkedIn | Twitter
Mobile Communication > Investors > SV Angel
People
Investments
[Unicorn] Kik (2009, Toronto, $121M, Series D)
Mobile messaging app with in-built browser
[Minicorn] Layer (2013, San Francisco, $37M, Series B)
API provider for multimedia messaging
[Minicorn] Confide (2013, New York City, $3.6M, Seed)
Self-erasing text messenger
Mobile Communication Notable Portfolio
[Unicorn] Instacart (2012, San Francisco, $2.8B, Series G)
Marketplace for same-day grocery delivery
[Unicorn] Pinterest (2010, San Francisco, $1.5B, Public)
Visual social bookmarking service
[Unicorn] Opendoor (2014, San Francisco, $1.3B, Series F)
Residential re-selling solution provider.
[Unicorn] Flexport (2013, San Francisco, $1.3B, Series E)
Online freight forwarder
[Unicorn] Zenefits (2013, San Francisco, $584M, Series C)
SaaS HR Platform for SMBs
[Unicorn] Coinbase (2012, San Francisco, $547M, Series E)
Digital currency exchange & wallet provider
[Unicorn] BuzzFeed (2008, New York City, $497M, Series F)
US-based social news provider
[Unicorn] Kabbage (2009, Atlanta, $491M, Series F)
Working capital financing for small businesses.
[Unicorn] TransferWise (2010, London, $397M, Series E)
International money transmitter based on currency swaps
[Unicorn] Credit Karma (2007, San Francisco, $370M, Series D)
Aggregator of various consumer financial products.
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Ron Conway
Founder & Co-
Managing Partner
Geographical Spread Stage of Entry
Apr 2019
OneSignal Grows Usage by 50% and Makes Key Hires, PR
Newswire
Nov 2018
OneSignal Hits New Milestone With Election News, PR
Newswire
Oct 2018
OneSignal launches Paid Plans and limits free service,
ppc.land
Apr 2018
OneSignal Announces the Launch of Email Messaging, PR
Newswire
Mar 2018
OneSignal Hires Bryan Smith as Senior Director of
Engineering, Promotes Kevin Weatherman to Chief
Revenue Officer, PR Newswire
Feb 2018
Confide Now Lets You Share Disappearing Photos and
Documents, TechCrunch
Jan 2018
Confide Launches an SDK to Prevent Screenshots in iOS
Apps, ProgrammableWeb
Dec 2017 Mobile Startup Closes $3.5 Million, NewsCenter
Aug 2017
OneSignal Push Notifications Startup Get’s Seed Funding
From Rakuten Ventures, timeodd.com
May 2017
Confide CEO Jon Brod on the White House, bad press, and
what’s next for his secure messaging app, TechCrunch
TokBox
Acq by Vonage - Aug 2018
MessageMe
Acq by Yahoo - Oct 2014
GroupMe
(2010, New York City, $11.5M)
Acq by Skype - Aug 2011
Couple
Acq by Life360 - Feb 2016
Snapchat
IPO - Mar 2017
Twilio
IPO - Jun 2016
2
1 1
5
1 1
2014 2015 2016 2017 2018 2019
Follow On New Investments
1
2
1
6
14
Undisclosed
Series C+
Series B
Series A
Seed22
1
1
-
-
US
Europe
Canada

Betaworks
95
Mobile Communication > Investors > Betaworks
People
Investments
[Soonicorn] IFTTT (2010, San Francisco, $63M, Series C)
Enables users to connect different web and mobile applications to
automate the workflow
[Minicorn] Ubermedia (2010, Pasadena, $34.6M, Series B)
Location based mobile audience platform
[Minicorn] StockTwits (2008, San Diego, $13.3M, Series C)
Communication platform for the trading and investment community
[Editor's Pick] Nylas (2013, San Francisco, $28.1M, Series B)
Open source email platform
[Editor's Pick] URX (2012, San Francisco, $15.1M, Acqui-Hired)
Deep linking for mobile apps
[Editor's Pick] Grape (2014, Vienna, $1.9M, Series A)
Team Communication
[Editor's Pick] AgVoice (TekWear) (2014, Atlanta, $100k, Seed)
Mobile based voice-interaction service for farmers
[Editor's Pick] NeuroLex Diagnostics (2016, Atlanta, Seed)
Speech based tool to screen for psychotic and neurological disorders
Top Exits
John Borthwick
CEO
Poojitha Preena
Co-founder, Investor
& Advisor
Nov 2018
Bunch Raises $3.8M in Seed Funding to Bring Group
Video Chat to Mobile Games, PR Newswire
Jul 2018
Agora.io Partners With Bunch To Bring Live Video Chat
To Popular Mobile Games, PR Newswire
Jul 2018
Yo founder returns with design-to-code startup Anima,
TechCrunch
Feb 2018
Family App Life360 Acquires Couple, A Private Messaging
App For Two, TechCrunch
Jun 2016
How Brexit is going to impact UK’s economy and its trade
relations with the world, YourStory Media
May 2016
Dark Sky's 'scarily precise' weather forecasts are finally
on Android, Mashable
Mar 2016
Plane is a new ‘social icebreaker’ app from the founder of
Cupple, TechCrunch
Jan 2016
Time to talk with the world… – Unmute – Medium,
Medium
Jan 2016 Unmute app scores $2.2 mln seed - PE Hub, PE Hub
Jan 2016
A startup that's actually getting teens to talk on the phone
again just raised $2.2 million | Business Insider India,
Business Insider
Couple
Acq by Life360 - Feb 2016
Ditto
(2010, New York City, $775k)
Acq by Groupon - Apr 2012
1
2
1 1
2014 2015 2016 2017 2018 2019
-
-
-
-
9
Undisclosed
Series C+
Series B
Series A
Seed8
1
-
-
-
US
Israel

Greylock Partners
96
Mobile Communication > Investors > Greylock Partners
People
Investments
[Minicorn] Crew (2015, San Francisco, $59.9M, Series C)
Mobile Communication Notable Portfolio
[Unicorn] Airbnb (2008, San Francisco, $3.4B, Series F)
Marketplace for vacation rental accommodations
[Unicorn] Facebook (2004, Menlo Park, $2.3B, Public)
Social networking site
[Unicorn] Groupon (2008, Chicago, $1.1B, Public)
Daily deals website
[Unicorn] Cloudera (2008, Palo Alto, $1B, Public)
Commercialised versions of Hadoop distributions
[Unicorn] Nuro.ai (2016, Menlo Park, $1B, Series C)
Self-driving delivery vehicle for local commerce
[Unicorn] Aurora Innovation (2016, San Francisco, $623M,
Series B)
Self driving technology startup
[Unicorn] Dropbox (2007, San Francisco, $607M, Public)
Cloud-based file sharing and synchronization software
[Unicorn] Rubrik (2014, Palo Alto, $553M, Series E)
De-duplicated storage based converged data management platform
[Unicorn] Coinbase (2012, San Francisco, $547M, Series E)
Digital currency exchange & wallet provider
[Unicorn] Pure Storage (2009, Mountain View, $528M, Public)
All-flash Enterprise Storage
[Unicorn] Marqeta (2010, Emeryville, $368M, Series E)
O2O payments and commerce platform
Top Exits
Dan Gregory
Co-Founder
Bill Elfers
Co-Founder
Dec 2018
Crew, a Workplace and Slack messaging rival for shift
workers, raises $35M, adds enterprise version,
TechCrunch
Dec 2017 Mobile Startup Closes $3.5 Million, NewsCenter
May 2017 Crew Bags $24.9M Series A & B, VC News Daily
May 2017
Team communications startup Crew reels in $15 mln
Series B, PE Hub
May 2016
Dark Sky's 'scarily precise' weather forecasts are finally
on Android, Mashable
Oct 2015
Sochat Announces $2m Series Seed Funding from Eniac
Ventures, NEA, and WeChat Founder Allen Zhang, PR
Newswire
Jun 2015
Lyft Acqui-Hires The Team From Messaging App Leo To
Improve Location And Other Features, TechCrunch
May 2015
Gather Is A Video App That Wants To Replace Your
Boring Text Replies – TechCrunch, TechCrunch
May 2013
MessageMe Raises A $10M Series A Led By Greylock As It
Gears Up For Money And Premium Services In Its Rich
Messaging App – TechCrunch, TechCrunch
MessageMe
Acq by Yahoo - Oct 2014
1
2
1 1
2014 2015 2016 2017 2018 2019
1
-
-
1
5
Undisclosed
Series C+
Series B
Series A
Seed7
-
-
-
-
US

Sequoia Capital
97
Mobile Communication > Investors > Sequoia Capital

Foundation Capital
98
Mobile Communication > Investors > Foundation Capital

Greycroft Partners
99
Mobile Communication > Investors > Greycroft Partners

Venrock
100
Mobile Communication > Investors > Venrock

Kleiner Perkins
101
Mobile Communication > Investors > Kleiner Perkins

GV
102
Mobile Communication > Investors > GV

Social Capital
103
Mobile Communication > Investors > Social Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
104
Seed Stage
Early Stage
Late Stage

Sequoia Capital
105

Kleiner Perkins
106

Accel
107
Mobile Communication > Investors > Accel

Benchmark
108
Mobile Communication > Investors > Benchmark

Bessemer Venture Partners
109
Mobile Communication > Investors > Bessemer Venture Partners

Index Ventures
110
Mobile Communication > Investors > Index Ventures

Redpoint Ventures
111
Mobile Communication > Investors > Redpoint Ventures

Balderton Capital
112
Mobile Communication > Investors > Balderton Capital

Atomico
113
Mobile Communication > Investors > Atomico

August Capital
114
Mobile Communication > Investors > August Capital

Rincon Venture Partners
115
Mobile Communication > Investors > Rincon Venture Partners

SV Angel
116
Mobile Communication > Investors > SV Angel

Andreessen Horowitz
117
Mobile Communication > Investors > Andreessen Horowitz

New Enterprise Associates
118
Mobile Communication > Investors > New Enterprise Associates

Menlo Ventures
119
Mobile Communication > Investors > Menlo Ventures

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
120
Seed Stage
Early Stage
Late Stage

Sequoia Capital
121

Kleiner Perkins
122

Comcast Ventures
123
Mobile Communication > Investors > Comcast Ventures

General Atlantic
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Mobile Communication > Investors > General Atlantic

Mobile Communication Sector Update

Mobile Communication Sector Update

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Mobile Communication Sector Update